Extract to table

"Licensed Products" shall mean the PrecisionEdge™ PE-5000 Series, PE-12000 Series, and PE-15000 Series laparoscopic trocar assemblies and their successors (i

Net Sales shall be calculated on an accrual basis in accordance with generally accepted accounting principles, consistently applied

Each quarterly payment shall be due within forty-five (45) days following the close of the applicable calendar quarter

Reports shall be delivered concurrently with each quarterly royalty payment

Such audits shall be conducted during normal business hours upon no fewer than thirty (30) days' prior written notice

The cost of the audit shall be borne by Apex; provided, however, that if the audit reveals an underpayment exceeding five percent (5%) of the royalties due for any audited period, Solstice shall bear the reasonable cost of the audit and shall promptly remit the underpayment amount together with interest at the rate of 1% per month from the date such amount was originally due